2008 Legislation
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HOUSE BILL NO. 697<br /> – GARVEE projects, list revised

HOUSE BILL NO. 697

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Bill Status



H0697.....................................................by WAYS AND MEANS
GARVEE PROJECTS - Amends existing law relating to powers and duties of the
Idaho Transportation Board and federally-funded highway project financing
(GARVEE) to delete a project from the list of projects from which the board
shall select and designate transportation projects to be funded with bond
proceeds.

04/02    House intro - 1st rdg - to printing
    Rpt prt - to Transp

Bill Text




                                                                       
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                   Second Regular Session - 2008

                                                                       

                              IN THE HOUSE OF REPRESENTATIVES

                                     HOUSE BILL NO. 697

                                BY WAYS AND MEANS COMMITTEE

  1                                        AN ACT
  2    RELATING TO POWERS AND DUTIES OF THE IDAHO TRANSPORTATION BOARD AND FEDERALLY-
  3        FUNDED HIGHWAY PROJECT FINANCING; AMENDING SECTION 40-315, IDAHO CODE,  TO
  4        DELETE  A  PROJECT  FROM  THE  LIST OF PROJECTS FROM WHICH THE BOARD SHALL
  5        SELECT AND DESIGNATE TRANSPORTATION PROJECTS TO BE FUNDED WITH  BOND  PRO-
  6        CEEDS.

  7    Be It Enacted by the Legislature of the State of Idaho:

  8        SECTION  1.  That  Section  40-315, Idaho Code, be, and the same is hereby
  9    amended to read as follows:

 10        40-315.  POWERS AND DUTIES -- FEDERALLY-FUNDED HIGHWAY PROJECT  FINANCING.
 11    (1) In order to address the increasing need for timely improvements to Idaho's
 12    highway transportation infrastructure, the board may:
 13        (a)  Enter  into agreements with the Idaho housing and finance association
 14        in connection with the funding of highway transportation projects qualify-
 15        ing for reimbursement from federal funds.
 16        (b)  Approve and recommend federal highway transportation projects to  the
 17        Idaho  housing  and  finance association for financing by the association.
 18        Such federal highway transportation projects shall be eligible for  feder-
 19        al-aid  debt  financing under chapter 1, title 23, United States Code, and
 20        approval by the federal highway administration as an advanced construction
 21        (AC) project thereunder. The board shall select and designate such  trans-
 22        portation projects to be funded with bond proceeds from the following list
 23        of eligible projects:
 24        ROUTE        PROJECT DESCRIPTION
 25        US-95        SH-1 to Canadian border
 26        US-95        Garwood to Sagle
 27        US-95        Worley to Setters
 28        US-95        Thorn Creek to Moscow
 29        US-95        Smokey Boulder to Hazard Creek
 30        SH-16 Ext    South Emmett to Mesa with connection to SH-55
 31        SH-16 Ext    I-84 to South Emmett
 32        I-84         Caldwell to Meridian
 33        I-84         Orchard to Isaacs Canyon
 34        US-93        Twin Falls alternate route and new Snake River
 35                     crossing
 36        SH-75        Timmerman to Ketchum
 37        US-20        St. Anthony to Ashton
 38        US-30        McCammon to Soda Springs
 39        (c)  On  and  after  July 1, 2008, all allocations of GARVEE bond proceeds
 40        shall be the sole responsibility and  duty  of  the  Idaho  transportation
 41        board. The legislature shall have authority to approve a total GARVEE bond
 42        amount  on  an  annual  basis.  However, the Idaho transportation board is
 43        directed to allocate bond revenue only among the projects listed  in  sub-

                                       2

  1        section (1)(b) of this section. In making its funding allocation for proj-
  2        ects, the board shall take into consideration: the cost of the project and
  3        whether or not that project could be financed without bonding; whether the
  4        project  is  necessary to facilitate the traffic flow on vital transporta-
  5        tion corridors; and whether the project is necessary to improve safety for
  6        the traveling public. On and after July 1, 2008, the board shall  use  due
  7        care  in  selecting  projects for bonding and shall balance and coordinate
  8        the use of bonding with the use of highway construction moneys.
  9    Notwithstanding the provisions of subsection (1)(b) of  this  section  wherein
 10    eligible  projects  are  listed for selection and designation by the board, if
 11    any of the designated projects are deemed to be ineligible by the  board,  the
 12    board  shall  have the authority to replace those projects with other projects
 13    listed in subsection (1)(b) of this section.
 14        (2)  Prior to issuance by the Idaho housing and finance association of any
 15    bonds or notes to finance highway transportation  projects,  the  board  shall
 16    certify  to  the  association that sufficient federal transportation funds are
 17    available to make any payments required for such bonds or notes.
 18        (3)  The board shall limit annual, total cumulative debt service and other
 19    bond-related expenses as follows:
 20        (a)  In the 2006 legislative session for  the  fiscal  year  2007  budget,
 21        total   cumulative   debt  service  and  other  bond-related  expenses  on
 22        federally-funded highway project financing shall be no  more  than  twenty
 23        percent (20%) of annual federal-aid highway apportionments.
 24        (b)  In  the  2007  legislative  session  for the fiscal year 2008 budget,
 25        total  cumulative  debt  service  and  other  bond-related   expenses   on
 26        federally-funded  highway  project  financing shall be no more than twenty
 27        percent (20%) of annual federal-aid highway apportionments.
 28        (c)  In the 2008 legislative session for  the  fiscal  year  2009  budget,
 29        total   cumulative   debt  service  and  other  bond-related  expenses  on
 30        federally-funded highway project financing shall be no  more  than  twenty
 31        percent (20%) of annual federal-aid highway apportionments.
 32        (d)  In  the  2009  legislative  session  for the fiscal year 2010 budget,
 33        total  cumulative  debt  service  and  other  bond-related   expenses   on
 34        federally-funded  highway  project  financing shall be no more than twenty
 35        percent (20%) of annual federal-aid highway apportionments.
 36        (e)  In the 2010 legislative session for  the  fiscal  year  2011  budget,
 37        total   cumulative   debt  service  and  other  bond-related  expenses  on
 38        federally-funded highway project financing shall be no  more  than  thirty
 39        percent (30%) of annual federal-aid highway apportionments.
 40        (f)  Beginning with the 2011 legislative session for the fiscal year 2012
 41        budget,  or for any year thereafter, the thirty percent (30%) limit may be
 42        exceeded, but only by affirmative action of both the house of  representa-
 43        tives and the senate, and with the approval of the governor.
 44        (4)  In  the event the board selects and designates to be funded with bond
 45    proceeds any of the transportation projects listed in subsection (1)  of  this
 46    section,  and  prior  to  entering  into agreements with the Idaho housing and
 47    finance association as provided herein, the Idaho  transportation  department,
 48    as  part  of  its  annual budget request prepared pursuant to section 67-3502,
 49    Idaho Code, shall include a request for bonding authority as a  separate  item
 50    of its budget request. This request for bonding authority shall include a list
 51    of  planned  highway  transportation  projects  to  be financed with such bond
 52    financing during the next succeeding fiscal year.
 53        (5)  By June 30 of each year, the board shall submit a report to the  leg-
 54    islature  concerning  projects  currently  under  construction  using the bond
 55    financing as authorized by the provisions of this section, and shall include a

                                       3

  1    list of planned highway transportation projects to be financed with such  bond
  2    financing during the next succeeding fiscal year.

Statement of Purpose / Fiscal Impact



                       STATEMENT OF PURPOSE

                             RS 18171

This legislation will eliminate confusion regarding GARVEE
funding of the proposed Indian Valley Highway.



                           FISCAL NOTE

There is no fiscal impact to the General Fund.







Contact
Name: Representative Diana Thomas 
Phone: (208) 332-1000


STATEMENT OF PURPOSE/FISCAL NOTE                         H 697